by Roger Koppl
Ralph Nader recently appeared on Judge Napolitano’s “Freedom Watch” to herald the rise of a coalition between “libertarian conservatives” and progressives. Within Congress, he says, both groups put principle above party. The first episode in this new alliance will be cooperation on the whistleblower bill.
Let’s hope it happens! Libertarians and progressives have a common interest in ending militarism and corporatism. The economic point of view tells us that we can do so only if we are willing to think of structural changes, institutional changes. To that end we need to rethink corporate law in the US. Nader has attacked the idea of “corporate personhood.”
In his Studies in Philosophy, Politics and Economics, F. A. Hayek proposed something different: Don’t let one corporation take an ownership share in another. He thought this reform would discourage the telescoping of power into the hands of a small managerial elite. It is high time we think seriously about such proposals for institutional reforms in the market for corporate control. Reform of corporate law is an early and urgent item on the reform agenda of the libertarian-progressive alliance.